MFA Oil CEO and President Announces Retirement

COLUMBIA - The CEO and president of MFA Oil announced his retirement Monday, effective August 31.

MFA Oil's director of public relations said Jerry Taylor has been in the position since Jan. 1, 2003 and will stay with the company to lead MFA Oil's investments in MFA Oil Biomass, AgFuel Energy Systems and WasteWater Logic.

"I believe that 2014 is the right time for me to retire for a number of reasons," Taylor said. "First, the company has performed well over the past couple of years, exceeding our expectations. As a result, the company is operationally very sound and positioned for continued success. Secondly, the senior leadership team and the board have laid out a vision for the company that will guide MFA Oil for many years to come and this gives me great confidence about MFA Oil's future success."

The current COO, Mark Fenner, will replace Taylor. May said Taylor recommended Fenner for his replacement. Fenner will take the position as of Sept. 1.

"Mark is the right guy and this is the right time for him to become the next leader of the company," Taylor said.

"With the support of MFA Oil employees, I look forward to building on Jerry's legacy and to leading this company to even higher levels of achievement as we go forward," Fenner said.